State of Michigan Retirement System Cuts Stock Position in HF Sinclair Corporation (NYSE:DINO)

State of Michigan Retirement System lessened its holdings in shares of HF Sinclair Corporation (NYSE:DINO - Free Report) by 19.0% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 38,300 shares of the company's stock after selling 9,000 shares during the quarter. State of Michigan Retirement System's holdings in HF Sinclair were worth $1,259,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Kayne Anderson Rudnick Investment Management LLC bought a new stake in shares of HF Sinclair in the 4th quarter worth approximately $31,000. Lee Danner & Bass Inc. bought a new position in HF Sinclair during the 4th quarter valued at approximately $32,000. EverSource Wealth Advisors LLC raised its position in HF Sinclair by 53.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 934 shares of the company's stock valued at $33,000 after purchasing an additional 327 shares during the last quarter. Byrne Asset Management LLC bought a new position in shares of HF Sinclair in the 1st quarter worth approximately $35,000. Finally, Allworth Financial LP raised its position in shares of HF Sinclair by 553.9% in the 1st quarter. Allworth Financial LP now owns 1,334 shares of the company's stock worth $41,000 after acquiring an additional 1,130 shares in the last quarter. 88.29% of the stock is owned by institutional investors.

HF Sinclair Stock Up 1.5%

Shares of HF Sinclair stock traded up $0.63 during trading on Thursday, hitting $43.50. 727,711 shares of the stock traded hands, compared to its average volume of 2,987,052. The firm has a market cap of $8.20 billion, a P/E ratio of -56.49 and a beta of 0.93. The company has a current ratio of 1.87, a quick ratio of 0.76 and a debt-to-equity ratio of 0.29. HF Sinclair Corporation has a 52-week low of $24.66 and a 52-week high of $52.88. The stock's fifty day simple moving average is $39.34 and its 200 day simple moving average is $35.47.

HF Sinclair (NYSE:DINO - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported ($0.27) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.41) by $0.14. The firm had revenue of $6.37 billion for the quarter, compared to the consensus estimate of $6.72 billion. HF Sinclair had a negative net margin of 0.51% and a positive return on equity of 0.05%. The company's quarterly revenue was down 9.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.71 EPS. On average, equities analysts predict that HF Sinclair Corporation will post 2.39 earnings per share for the current fiscal year.

HF Sinclair Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 3rd. Investors of record on Thursday, May 15th were given a $0.50 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $2.00 dividend on an annualized basis and a yield of 4.60%. HF Sinclair's dividend payout ratio is currently -259.74%.

Analyst Ratings Changes

DINO has been the subject of a number of recent research reports. Piper Sandler lifted their price target on shares of HF Sinclair from $43.00 to $53.00 and gave the company an "overweight" rating in a research report on Tuesday. Wells Fargo & Company increased their price objective on shares of HF Sinclair from $34.00 to $38.00 and gave the company an "equal weight" rating in a research report on Wednesday, June 11th. Raymond James Financial upgraded shares of HF Sinclair from a "market perform" rating to a "strong-buy" rating and set a $54.00 price target on the stock in a report on Tuesday. Wolfe Research cut shares of HF Sinclair from a "peer perform" rating to an "underperform" rating in a report on Monday. Finally, Mizuho upgraded HF Sinclair from a "neutral" rating to an "outperform" rating and increased their target price for the company from $40.00 to $47.00 in a research note on Tuesday, May 13th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, HF Sinclair has an average rating of "Moderate Buy" and an average target price of $48.45.

HF Sinclair Company Profile

HF Sinclair Corporation operates as an independent energy company. The company produces and markets gasoline, diesel fuel, jet fuel, renewable diesel, specialty lubricant products, specialty chemicals, specialty and modified asphalt, and others. It owns and operates refineries located in Kansas, Oklahoma, New Mexico, Utah, Washington, and Wyoming; and markets its refined products principally in the Southwest United States and Rocky Mountains, Pacific Northwest, and in other neighboring Plains states.